Treasury Secretary Janet Yellen is scheduled to appear before the House of Representatives on Thursday afternoon to discuss the economic outlook for the United States. Earlier in the day, Yellen spoke in support of President Biden’s 2025 budget proposal, which involves increasing taxes for the wealthiest Americans and expanding the child tax credit.
During a Senate Finance Committee hearing earlier today, Yellen stated that the Biden administration will continue to oppose plans that would increase the deficit by providing significant tax breaks to wealthy individuals and large corporations. This sets up a partisan debate on tax policy that is expected to be a major issue in the upcoming 2024 election.
Shalanda Young, director of the Office of Management and Budget, will also be present during the hearing, which takes place at 2:30 p.m. EDT. The live video broadcast can be viewed above.
